Verizon Communications Inc. $VZ Stake Trimmed by Optas LLC

Optas LLC lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 51.5% during the second quarter, HoldingsChannel reports. The firm owned 14,642 shares of the cell phone carrier’s stock after selling 15,562 shares during the period. Optas LLC’s holdings in Verizon Communications were worth $634,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. boosted its position in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after acquiring an additional 243 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter valued at about $26,000. Cherry Tree Wealth Management LLC lifted its holdings in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 244 shares during the last quarter. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications during the 2nd quarter valued at about $25,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications during the 1st quarter valued at about $29,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Down 0.1%

Shares of VZ stock opened at $41.35 on Thursday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The firm has a market cap of $174.35 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 3.20 and a beta of 0.37. The stock has a 50 day moving average of $43.58 and a 200-day moving average of $43.30. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same period in the previous year, the company earned $1.15 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.7%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio is presently 63.17%.

Analyst Ratings Changes

Several brokerages have recently issued reports on VZ. Scotiabank lifted their price target on Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a report on Monday. Morgan Stanley lifted their price target on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Bank of America boosted their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price for the company. Finally, Royal Bank Of Canada boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.63.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).